Today we’re celebrating two important milestones that we wanted to share with our clients – primarily because we could never have reached them without you!

We’re an IPSE Selected Accountant

IPSE (formerly known as PCG) – the association that represents freelancers and contractors in the UK – has today added us to their Selected Accountants list – a group of just four firms nationally which IPSE believes offer the very best service for independent professionals. We’re the first and only online accountant to make it onto this exclusive list, and we couldn’t be happier to have been chosen. There’s an incredibly rigorous selection process involved, but our commitment to best-of-breed training (now all conducted in our very own Academy), outstanding customer service, and of course modern online accounting software, saw us through.

The last twelve months have been a period of crazy goings-on in the online accounting sector, with high-profile acquisitions and bold crowdfunding efforts. The Big Four – who view innovation like most people view a hole in the head – have even started to come around to the idea. We’re on course to be the first online accountant to crack the Accountancy Age top 100, and we think this recognition from the IPSE is another important step along the road to mainstream acceptance. Online accounting may well be the norm soon – according to a survey by OnePoll 34% of traditional firms have now switched to cloud accounting software, up from 28% last year, and a further 31% intend to make the switch soon.

Not to say we told you so, but the largest contributing factor to firms moving to the cloud was pressure from clients to modernise.

Freelancers and contractors are at the forefront of modern working practices in the UK, so it’s only right that IPSE, their representative body, recognises this shift.

You’ve invoiced £1 billion

Our second milestone is a big one, monetarily speaking. To date our clients – now about 5,500 of you – have billed £1 billion through Crunch! We’re now seeing an average of £1.03 million pass through our software in sales every single day, and we recently saw our highest volume day ever with £7.5 million billed in just 24 hours!

This is an incredible number, and shows the huge contribution the UK’s freelancers, contractors and small businesses are making to the economy. As more and more people join the self-employed movement this contribution is only set to rise.

One interesting nugget from this data – not only is the raw value of our invoicing growing fast, the average invoice value per client is rising too – it looks like we’re not the only growing business out there! Here’s how our monthly invoice values look since we launched –

Invoice values

Photo by Roger Reuver